Green Steel Market is expected to reach US$ 140,435.7 million by 2031 | Major players - H2 Green Steel, Tata Steel Ltd., ArcelorMittal, Boston Metal.

Market Size and Growth:

The Global Green Steel Market size reached US$ 201.3 million in 2022 and is expected to reach US$ 140,435.7 million by 2031, growing with a CAGR of 126.7% during the forecast period 2024-2031.

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The Green Steel Market refers to the global industry involved in producing steel using environmentally sustainable methods that reduce carbon emissions. It focuses on technologies such as hydrogen-based direct reduced iron, electric arc furnaces, and recycling waste steel. Driven by climate regulations, decarbonization initiatives, and growing demand for eco-friendly construction and automotive materials, the market is poised for significant growth.

Recent Key Developments of United States:

✅ November 2025: U.S. Steel launched a pilot project for hydrogen-based direct reduction at its Gary Works facility, aiming to cut emissions by 50% in initial tests, supported by federal grants under the Inflation Reduction Act.

✅ October 2025: Nucor Corporation announced a $2.5 billion investment in a new electric arc furnace plant in Kentucky, incorporating green steel production using 100% renewable energy sources.

✅ September 2025: Cleveland-Cliffs partnered with a renewable energy firm to supply green iron ore pellets to its mills, marking a step toward net-zero steelmaking by 2030.

Recent Key Developments of Japan:

✅ December 2025: Nippon Steel expanded its commercial-scale green steel trials using hydrogen injection in blast furnaces at the Kimitsu plant, targeting 1 million tons annually by 2027.

✅ November 2025: JFE Steel and Toyota signed an agreement to procure low-CO2 steel for vehicle manufacturing, with initial deliveries starting from recycled and hydrogen-reduced processes.

✅ October 2025: The Japanese government approved subsidies for a consortium led by Kobe Steel to develop electrolysis-based green steel technology, focusing on grid-scale renewable integration.

List of the Key Players in the Green Steel Market:

H2 Green Steel
Tata Steel Ltd.
ArcelorMittal
Voestalpine
Boston Metal
Nucor Corporation
SSAB
Nippon Steel Corporation
JFE Steel Corporation
Salzgitter AG

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This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Segments Covered in the Green Steel Market:

By Type: Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE).

By Energy Resource: Hydrogen, Coal Gasification and Electricity.

By End-User: Construction, Automotive, Electronics, Industrial Equipment and Others.

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Green Steel market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Green Steel Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The Global Green Steel market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Green Steel Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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People Also Ask:

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